Cryptocurrency

Ethereum Price Analysis: Potential Decline Below $3000

Sunday. January 19 at 11:00 PM

1 min. read

Ethereum, a leading altcoin, has experienced a 2% price drop in the last 24 hours, contrary to the market trend. This decline is attributed to a decrease in demand for the coin, raising concerns of a possible drop below $3000. Analysis of Ethereum's momentum indicators on the ETH/USD one-day chart indicates a decrease in demand. The Relative Strength Index (RSI) is currently below the neutral line at 42.61, signaling weakening momentum. Additionally, the Chaikin Money Flow (CMF) is on the verge of dropping below zero, confirming the diminishing demand. With the current price at $3,175 and facing resistance at $3,249, Ethereum may see a further decline to $2,811 if buying pressure continues to weaken. However, improved market sentiment could push the price above $3,249. This analysis serves as informational content and not financial advice, urging readers to conduct their own research and seek professional guidance before making investment decisions.

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Cardano Price Analysis: Potential Recovery Ahead

Wednesday. February 5 at 12:00 AM

Cardano (ADA) has experienced a notable price decline recently, dropping by 22% in the past four days. Despite appearing as a setback, this downturn could actually present a positive outlook for the cryptocurrency's future. The current MVRV Ratio sits at -21.81%, falling within the opportunity zone of -11% to -25%, historically indicating a strong reversal point and potential price rebounds. This zone also serves as an accumulation opportunity for investors due to perceived undervaluation. The Chaikin Money Flow (CMF) indicator has shown an increase, reflecting positive investor sentiment and potential for a price rally. With technical indicators aligning for a possible recovery, Cardano's price may see a significant upside in the short to medium term. However, maintaining support above $0.70 is crucial for sustaining the bullish momentum. Investors are advised to conduct their own research and seek professional advice before making financial decisions.

Cryptocurrency

US President Trump Signs Executive Order for Sovereign Wealth Fund Creation

Tuesday. February 4 at 8:00 PM

President Donald Trump signed an executive order on February 3, calling for the establishment of a sovereign wealth fund. This order builds on a previous directive for a national digital asset stockpile, indicating a growing emphasis on strategic financial reserves. The order tasks the Treasury and Commerce Secretaries with developing a detailed plan for the fund within 90 days. The aim is to utilize returns from the fund to enhance fiscal sustainability, reduce tax burdens, ensure long-term economic security, and bolster US economic leadership globally. While the order did not mention cryptocurrencies explicitly, it generated excitement among Bitcoin supporters, particularly due to Senator Cynthia Lummis' positive response. The move also coincides with various US states introducing bills to promote crypto adoption and regulatory clarity, reflecting a broader trend towards embracing digital assets in the country.

Cryptocurrency

XRP Rebounds Amidst Tariff Pause

Tuesday. February 4 at 7:00 PM

XRP has surged over 7% in the last 24 hours, climbing from $1.79 to $2.78 on Feb. 4. This rise follows a broader crypto market trend after US President Trump halted proposed tariffs on Canada and Mexico. The pause in tariffs signals economic stability, benefiting risk-on assets like cryptocurrencies. Bitcoin also saw a recovery, surpassing $100,000 before settling above $98,000. Despite XRP's 50% jump from its recent low, there are concerns of a potential bull trap. The RSI indicates bearish momentum, with a possible retracement towards $2.26 and $2.00. XRP investors have gained nearly $2 billion in profits, one of the highest in its history. This article does not offer investment advice, emphasizing the importance of conducting personal research before making financial decisions.

Cryptocurrency

Cryptocurrency Exchange Warns of Repayment Delays

Tuesday. February 4 at 4:00 PM

Indian cryptocurrency exchange WazirX has cautioned that repayments from the $235 million hack against it may face delays until 2030 if creditors do not approve its proposed restructuring plan. The company presented two scenarios for creditors affected by the hack, stating that if the plan is accepted, the process could start in April 2025, with the relaunch of the platform and initial repayments. However, rejection could lead to a five-year wait for creditors to retrieve their assets. WazirX emphasized the importance of approving the restructuring scheme to avoid unclear and prolonged timelines. The exchange highlighted the potential impact of liquidation on asset repayment, warning of lower value due to liquidation costs. The High Court of Singapore has endorsed the restructuring plan, aiming for quick distributions to benefit users. WazirX plans to introduce recovery tokens for users to recover up to 80% of their balances.

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